Traders work on the floor of the New York Stock Exchange (NYSE) on February 13, 2026 in New York City.
Spencer Platt | Getty Images
U.S. stock futures fell Sunday night after President Donald Trump said he’s raising his global tariffs to 15% from 10% after the Supreme Court struck down the president’s “reciprocal” tariffs. The new tariffs heightened market uncertainty about the outlook for inflation and global growth.
Dow Jones Industrial Average futures dropped 300 points, or 0.6%. S&P 500 futures and Nasdaq 100 futures slid 0.7% and nearly 1%, respectively.
Oil prices sank, with Brent crude futures declining 0.7% to $71.26 a barrel. U.S. crude futures were at $65.95 a barrel, down 0.8%.
Bitcoin also slumped, tumbling 5% to below $65,000 as the cryptocurrency’s sharp sell-off continued.
Those moves come after Trump on Saturday said he would increase global tariffs to 15%, up from the 10% he announced on Friday. Trump said the duties would go into effect immediately, though it was unclear whether any official documents had been signed regarding the timing.
“I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been ‘ripping’ the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” Trump wrote.
Trump also warned that additional levies would be coming over the next few months.
Wall Street is coming off a choppy trading session. On Friday, stocks initially rallied after the Supreme Court struck down a broad swath of Trump’s trade agenda, before pulling back and then ultimately recovering again.
The Dow Jones Industrial Average ended the session higher by more than 230 points, 0.5%, recovering from a 200-point loss earlier in the session. The S&P 500 gained 0.7%, while the Nasdaq Composite rose 0.9%.
Investors hoped the Supreme Court ruling would soothe tensions between the U.S. and its trading partners and lead to possible refunds to companies affected by the tariffs, but are awaiting more clarity from the White House.
“It would seem that Wall Street — and Main Street — are going to be dealing with the issue of trade and tariffs for some time to come,” Tim Holland, chief investment officer of Orion Wealth Management, wrote on Friday.
Meanwhile, Iran remains a focal point for investors. This past week, Trump encouraged Iran to reach a deal over its nuclear program, warning that otherwise “bad things” might happen.
Trump is scheduled to deliver his State of the Union address to Congress on Tuesday.
Nvidia earnings will be a key focus this week. The chipmaking giant is set to release results on Wednesday. It’s one of only two Magnificent Seven stocks to have eked out a gain this year. The company will have to reassure investors that its artificial intelligence investment strategy remains intact.
On the economic front, durable goods orders and factory orders data are set to be released on Monday morning.
